Tag Archives | Enoch Godongwana


Political messaging, juggling spending demands, and the outlook for SA bonds

Jeff Schultz, senior economist at BNP Paribas South Africa, provides the following perspective on the Budget. He discusses: What the ANC hopes the Budget will achieve politically. The outlook for government revenue and spending. Why BNP Paribas remains positive on government bonds. Emulating the prudent approach to future revenue gains displayed in November’s Medium Term […]

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Proposal to increase retirement funds’ offshore allowance

National Treasury’s proposal to harmonise the offshore limit for all insurance, retirement and savings funds will enable retirement funds to invest up to 45% of their capital offshore. This includes the 10% allowance for investments into other African countries, according to the Budget Review. The proposal implies that the current Regulation 28 offshore limit of […]

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10 predictions for this week’s Budget

Minister of Finance Enoch Godongwana will deliver his maiden Budget speech on Wednesday. After almost two years since South Africa declared a State of Disaster in light of the Covid-19 pandemic, the economic outlook remains constrained. This is due to low economic growth, growing unemployment rates and mounting debt in recent years. This has been […]

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Godongwana’s holding the fort on fiscal consolidation pleases the markets

Opinion: Godongwana’s holding the fort on fiscal consolidation pleases the markets

Finance Minister Enoch Godongwana delivered his first Medium Term Budget Policy Statement (MTBPS) on 11 November. Unlike policy statements of the recent past, the market was primed for positive surprises. After all, monthly tax collection data pointed to a large revenue overrun relative to the February 2021 budget. Moreover, with growth rebounding stronger than expected, […]

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